Follow The Daily Ticker on Facebook! Warren Buffett's Berkshire Hathaway ended its five-year bullish bet on the municipal bond market, disclosing in a recent quarterly filing that the Ohama, Neb., company canceled $8.25 billion worth of credit-default swaps that insured its muni-bond market wager, The Wall Street Journal reports.
Follow The Daily Ticker on Facebook! Another major milestone for Apple ( AAPL ) on Monday when it became the most valuable publicly traded company ever (before adjusting for inflation). The tech stock ended the day up 2.63 percent to close at $665.15 a share, giving it a market capitalization of $623.52 billion. The stock is up more than 60 percent in the last year.
Follow The Daily Ticker on Facebook! Last week the focus of the presidential campaign was Congressman Paul Ryan, Mitt Romney's pick for VP, and his budget plan to cut taxes and slash spending. This week it's back to the economy and President Obama's efforts to pull it out of the deepest recession since the Great Depression
Follow The Daily Ticker on Facebook! The drought ravaging corn fields across the U.S. has caused the price of corn to jump 60 percent in three months.
Facebook's ( FB ) stock crash has done more than blindside investors who figured that no price was too high for the IPO. The stock's sell-off has even rattled CEO Mark Zuckerberg, who famously said he cares more about the company's social mission than its stock price
Follow The Daily Ticker on Facebook! July housing starts registered a bit weaker than expected Thursday, raising questions yet again about the state of the U.S. housing market
Follow The Daily Ticker on Facebook! U.S. consumers pulled out their credit cards and shopped in July, reversing a three-month downward trend in retail sales, according to the Commerce Department
Follow The Daily Ticker on Facebook! The former director of the Office of Management and Budget for the Reagan administration, David Stockman, blasts Paul Ryan's budget plan in a New York Times op-ed . Stockman calls the budget an "empty conservative sermon" and "fairy tale" and says it will "do nothing to reverse the nation's economic decline and arrest its fiscal collapse." Stockman's main complaint about the Ryan budget, which reflects his broader frustration with today's Republican party, is that it preserves massive and, in his view, unnecessary spending on Defense and other programs while screwing people who actually need help by cutting food stamps, Medicaid, and other efforts that lessen the pain of poverty. Stockman also rails against the new "Wall Street-coddling" bailout Republicans like Ryan, who stand by and let the Federal Reserve fix interest rates, encourage speculators, crush savors, encourage overconsumption, and punish thrift.
Follow The Daily Ticker on Facebook! Groupon ( GRPN ) shares continue to fall Tuesday morning after a disappointing second quarter earnings report sent the stock price to a new low in after-hours trading Monday. Most recently the stock was down 23 percent to $5.78 a share. The Chicago-based daily deals website reported weaker-than-expected second quarter revenues totaling $568 million, or 8 cents a share, compared to forecasts of $575 million.